WARRENVILLE, Ill. -- Navistar Financial Corp. (NFC), a wholly owned subsidiary of Navistar International Corp., has sold $250 million of wholesale floor plan notes in a two-year 144-A transaction to support its dealer inventory funding.

This is NFC’s first asset sale of calendar year 2010, and it brings NFC’s total wholesale capacity to $1.1 billion when combined with previously issued public and private funding. NFC initially sought $200 million and increased the amount to $250 million due to strong demand.

“This deal provides competitively priced long-term funding to support Navistar’s dealers, and it further diversifies our funding sources by broadening our investor base and maturity structure,” said David Johanneson, president and chief executive officer of NFC. “As the economic recovery continues, we continue to seek the most cost-effective financing solutions for our dealers and customers to support the profitable growth of Navistar.”

The deal is eligible for funding under the U.S. Federal Reserve’s TALF (Term Asset-Backed Securities Loan Facility) program, which offers loans to investors to support the purchase of asset-backed securities.